澳洲Australia property How much to insure property for? | Sydney
在澳大利亚 The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m
I am in the process of buying a property and busy sorting out the building insurance for the property.
The value of the property and land is worth around $220-230k. I estimate is that the land value is around $140k.
With this in mind, what would be a safe amount of insurance the building for? Would $150k be sufficient to replace the 3 bedroom house as well as all the other costs associated? i.e. removing the rubble etc.
If you are purchasing using a bank the valuation report will detail exactly how much the building insurance amount needs to be under 'replacement value'.
Thanks Aaron, too easy